Analytical Charts - Jim Wyckoff
CPM Trade Signal - August 15, 2023
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Time Stamp
Prices as of 12:30 p.m. EST 15 August 2023 $1,936 (Basis the December 2023 Comex contract).
Recommendation: Sell
Initial Target Price / Range: $1,910
Initial Timeframe: 15 August 2023 to 25 August 2023
Seasonal weakness in gold prices, a stronger U.S. dollar, and higher real yields are expected to weigh on gold prices in the near future. Prices have some initial support at the $1,916 level, but could potentially decline toward $1,910.
CPM has one-month, three-month ranges and eight-quarter quarterly price projections with greater discussion of the factors behind CPM's analyses provided in CPM's monthly subscription service, the Precious Metals Advisory.
While short-term trade recommendations provide high risk – high reward opportunities for investors, it is difficult to capture the complex web of factors affecting precious metals prices and the nuanced CPM analyses of these factors that goes into our firm's price projections. In addition to these short-term outlooks, CPM Group provides clients enhanced trade recommendations that include one and three month price projections, as part of our Retail Investor Program. Contact CPM at info@cpmgroup.com for details.
Notes:
Initial Target Prices and Timeframes are just that: Initial. If CPM does not issue a new Recommendation during or after that time it indicates that CPM maintains the posture in the most recent Trade Recommendation. Position may be closed out once target price is reached, within the noted discretion or until CPM provides new trade recommendation. CPM may have reported to have closed out of prior trade recommendation at its discretion before publicly publishing new trade recommendation due to processing time.
Discretion should be allowed at +/- 0.20% of the price at the time each TR is issued from the target.
CPM's preferred investment strategies use physical, futures, forwards, and options.
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